(Reuters) Hedge funds should stop making excuses for poor performance, the chairman of Lansdowne Partners said on Wednesday against a backdrop of weak average returns that have prompted some to pull their money out. “When we as managers … have a bad year, we need to be honest and tell clients we are making mistakes,” Stuart Roden, who heads up one of London’s oldest hedge fund firms, said at the Sohn Investment Conference in Tel Aviv.
The average hedge fund had returned slightly more than 4 percent in the year to end-September, industry tracker Hedge Fund Research (HFR) said, less than half that of the FTSE 100 over the same time period.
